Construction Industry Set To Be Busy Next Year

By S.Joan Santani

KUALA LUMPUR (Bernama) -- Malaysia's construction industry is expected to be busy next year, driven by both private and government projects, particularly the Economic Transformation Programme (ETP).

Under the National Key Economic Areas (NKEA) listed in the ETP, the country saw the launch of 195 projects over the past three years, bringing in a total committed investment of RM220 billion.

The projects are expected to contribute RM144 billion to gross national income and create 435,000 new jobs.

Construction Industry Development Board Malaysia (CIDB Malaysia) Chief Executive, Datuk Seri Judin Abdul Karim, said the construction industry was expected to secure a total of RM115 billion worth projects in 2014.

Last year, the total projects secured were worth RM120 billion, which surpassed the expected RM95 billion, Judin said.

"The construction industry did very well this year to grow by 18 per cent compared with last year despite the gloomy global economy," he said.

Judin said the current trend was forecast to continue next year with the anticipation of continuous economic stability.

"We expect the bulk of next year's projects to come from non-residential construction projects.

"The industry would also see more private sector projects compared to government-owned," he told Bernama.

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Construction Industry Set To Be Busy Next Year